Bank of England to send rates to four per cent after Truss energy package September 11, 2022 The Bank of England could be forced to hike interest rates to their highest level since October 2008 to offset Liz Truss’s around £150bn energy support stoking inflation, City economists have warned. Sanjay Raja, senior economist at Deutsche Bank, said borrowing costs may be hoisted to restrictive territory to tame price pressures, possibly reaching a [...]
City eyes economic data dump for clues on BoE rate hike path September 11, 2022 City traders will be looking for clues shedding light on how far the Bank of England will need to hike interest rates in this week’s economic data dump. The capital’s premier FTSE 100 index posted a decent performance last week, adding nearly one per cent to close at 7,351.07 points. Its mid-cap domestically-focused counterpart, the [...]
Day of Queen’s funeral declared a bank holiday September 10, 2022 The day of the Queens funeral has been declared a bank holiday, by soon-to-be king Charles III. Queen Elizabeth II, the UK’s longest-reigning monarch, died peacefully aged 96 at Balmoral Castle on Thursday afternoon. The Queen will be given a state funeral, the first in the UK for more than half a century. Under leaked [...]
Market wrap: London stays open and sees shares and pound rise September 9, 2022 Markets in London traded as usual on Friday, and saw shares and the pound trade higher. The London Stock Exchange confirmed that it planned to maintain normal opening hours after the death of the Queen, but would close during any public holidays. The FTSE 100 joined an international rally, which saw global markets break out [...]
Bank of England pushes back rates decision to late September September 9, 2022 The next decision on interest rates will be made a week later than anticipated, following the death of Queen Elizabeth II. The country has entered into a period of mourning after it’s longest-reigning monarch died yesterday at Balmoral Castle, aged 96. An original meeting of the Monetary Policy Committee scheduled for 15 September has now [...]
Banknotes and coins with The Queen’s iconic face will remain legal tender, for now September 9, 2022 The nation has become accustomed to the Queen’s face adorning our bank notes, pound coins and stamps. But as the country now mourns her passing, many have wondered what will happen to the iconic symbol of the monarch on our coins; whether her face will continue to be printed on the currency, and whether indeed [...]
The world has suddenly changed, but there is a constant that will outlive us all September 9, 2022 Crypto AM's Jason Deane tries to make sense of one of the most eventful and significant weeks in world history.
Economists warn UK to face blackouts under Liz Truss energy plan September 8, 2022 Economists today warned prime minister Liz Truss’s decision to freeze energy bills for everyone in the UK at £2,500 raises the risk of blackouts. Experts at the economic think tank the Institute for Fiscal Studies (IFS) said energy supplies may run dry due to the government propping up energy spending. “Households, businesses or governments… will [...]
European Central Bank fires record rate rise shot to tame scorching inflation September 8, 2022 The European Central Bank (ECB) today hiked interest rates by the biggest amount since its creation in 1999 as it steps up its fight against a historic inflation surge on the Continent. President Christine Lagarde and co lifted borrowing costs in the bloc of 19 countries using the euro 75 basis points. The move takes [...]
All eyes on the Pound as Sterling set for bounce on Truss’s energy bill freeze September 8, 2022 It’s a big day in the markets with Liz Truss set to confirm her energy plans. The proposals are set to place a huge burden on the UK’s already strained finances. UK energy bills are set to rise to more than £3,500 a year for the average household from October, with Truss expected to outline [...]